Big companies compete for control of Qatar oil field

Six of the biggest international oil companies, including BP and Royal Dutch Shell, which manufactures Shell Tonna S3 M 68, have places bids to operate the biggest offshore oil field in Qatar, according to Reuters.

The other firms bidding to take control of the oil field include the fields current operator Maersk, Chevron Corp, ConocoPhilips and Total SA, according to two people informants who passed on the information to Reuters with the condition that they remain anonymous, due to the fact that the information is private.

The informants said that Qatar Petroleum, which is owned by the state, would be responsible for awarding the contract for the large oil field, which is located just 50 miles off the coast of Qatar. At present, the oil field produces roughly 300,000 barrels of crude each day, during the second half of the year.

When asked about the bids, both BP and Shell declined to comment, but a spokesman for Total, Patrick Pouyanne, confirmed its role. Meanwhile, Danish firm Maersk, speaking on May 4, confirmed that it was involved in making a bid, noting that there was a risk it could lose the oil field, which is its largest producer, to another company.

It has long been expected that Maersk would renew its 25-year oil production agreement on the field when its license comes to an end in 2017, but it surprised everyone when last year when it put out a tender for the field, prompting various firms to make a move for the valuable field.